THE LOAN PROPOSALS.

Stratford Evening Post, Volume XXXV, Issue 61, 17 March 1913, Page 8

THE LOAN PROPOSALS.

(To the Editor Stratford Post.)

Sir,—The present total indebtedness of the Borough of Stratford is £42,890, and I see that the total proposed new loans amount to £-12,000. In other words, it is proposed to double the present debt. Decidedly it is high time that the

ratepayers should consider most seriously what this will mean. At 'rhe last Mayoral election it was stated hy both candidates (.and I lie.ieve ii to be quite correct) that about £is,000 only could be borrowed without any additional rate being imposed. This is possible through the increased rents now being obtained from the borough reserves; but any sum borrowed in excess of that amount would carry a special rate, and, therefore, if the whole of the proposals are carried avo will be rated on £27,000, that being the difference between the total of £42,000 and the £15,000 seif supporting. It is quite fair to assume that at least 5 per cent, aa ill be charged on this £27,000, which will entail an annual contribution from the ratepayers of £1350, in addition to what they already find, by Avay of special rates, and also a heavy increase in the general rate in order to maintain the proposed road, etc. improvements 1 think that the essential requirements of the Borough may be reduced to two, water and drainage. The water supply and quality leave everything to be desired. The pressure for fire prevention purposes is nearly useless, and we are really taking grave risks in this matter. As for the quality, notwithstanding Cr. Dingle’s pseudo expert defence of it, I think that an overwhelming majority ot users will agree with me that it is simply atrocious. The peculiar flavour, which Cr. Dingle calls “mossy," and which I call “beastly,” is only one of its little drawbacks. If a glass of unfiltered Stratford water is left standing undisturbed for tw'entyfour hours the smell arising therefrom is disgusting, and a considerable sediment will have been deposited. f certainly think that water and drainage are most npcessary, and I notice Avith'pleasure that these items will only absorb £16,000, less £ISOO, included therein, which is to bo repaid by the ratepayers connecting, leaving a nett loan of £14,500. Sir, I urge the ratepayers;.to let the loan stand at that. ,

We cam do without the bridge, and we can do .without the* street improvements. I wish to make it quite clear that I am entirely disinterested in my advocacy. I already have both water and drainage. I certainly should like my own street and path improved, but I now pay £l4 odd in rates, and it is quite enough for me without having it nearly Further, for many patent reasons, j, having regard to the financial position of things, now is not the time to borrow. We will, in the first,place, pay dearly for our dispensable .improvements, and, upon the cessation of the expenditure, we (who remain) will pay yet more dearly in the invariably following stagnation. /

Sir, let Stratford hasten slowly, the up-to-date policy Q'f “borrow and 'bust” is not the hall-mark of progress, and we, who have genuine faith in our town, should bo content to bide our time and advance when the flood-tide of prosperity rises and not at the ebb, when, I fear, we should be more or less appropriately (to con tinuo my nautical metaphor. ) on the rocks.—l am, etc..

RESIDENT RATEPAYER